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Estimation of Multiproduct Models in Economics on the Example of Production Sector of Russian Economy

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Optimization and Applications (OPTIMA 2018)

Part of the book series: Communications in Computer and Information Science ((CCIS,volume 974))

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Abstract

The model of the real sector of the Russian economy is presented. It allows for the separate description of GDP and its components by expenditure both in constant and in current prices. Unlike standard macroeconomic models, the model proposed considers a set of Trader agents in addition to Producer agent. Traders are based on a set of CES-functions and allow to decompose the statistics available into a set of unobserved components. The Producer is based on a specific production function that performs well for Russian data and works with financial variables, such as credits and bank accounts. In contrary to the standard approach, the model is not linearized to get estimates of model parameters but is estimated directly using a set of nonlinear equations. The optimization is performed numerically and allows to get both series of unobserved model products and their prices and model parameters. The stability of the solution found is checked on simulated data.

The reported study was supported by the Russian Scientific Fund, research project No. 14-11-00432.

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Author information

Authors and Affiliations

  1. National Research University – Higher School of Economics, Moscow, Russia

    Ivan Stankevich & Alexei Ujegov

  2. The Lebedev Physical Institute of the Russian Academy of Sciences, Moscow, Russia

    Ivan Stankevich & Sergey Vasilyev

  3. Federal Research Center “Computer Science and Control” of the Russian Academy of Sciences, Moscow, Russia

    Sergey Vasilyev

Authors
  1. Ivan Stankevich
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  2. Alexei Ujegov
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  3. Sergey Vasilyev
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Corresponding author

Correspondence to Alexei Ujegov .

Editor information

Editors and Affiliations

  1. FRC CSC RAS, Dorodnitsyn Computing Centre, Moscow, Russia

    Yury Evtushenko

  2. University of Montenegro, Podgorica, Montenegro

    Milojica Jaćimović

  3. Krasovsky Institute of Mathematics and Mechanics, Yekaterinburg, Russia

    Michael Khachay

  4. Sobolev Institute of Mathematics, Siberian Branch of the Russian Academy of Sciences, Novosibirsk, Russia

    Yury Kochetov

  5. FRC CSC RAS, Dorodnitsyn Computing Centre, Moscow, Russia

    Vlasta Malkova

  6. FRC CSC RAS, Dorodnitsyn Computing Centre, Moscow, Russia

    Mikhail Posypkin

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Stankevich, I., Ujegov, A., Vasilyev, S. (2019). Estimation of Multiproduct Models in Economics on the Example of Production Sector of Russian Economy. In: Evtushenko, Y., Jaćimović, M., Khachay, M., Kochetov, Y., Malkova, V., Posypkin, M. (eds) Optimization and Applications. OPTIMA 2018. Communications in Computer and Information Science, vol 974. Springer, Cham. https://doi.org/10.1007/978-3-030-10934-9_33

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  • DOI: https://doi.org/10.1007/978-3-030-10934-9_33

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-10933-2

  • Online ISBN: 978-3-030-10934-9

  • eBook Packages: Computer ScienceComputer Science (R0)

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